Deutsche Borse leads Next Gate Tech funding round 13 April 2023Luxembourg Reporter: Lucy Carter
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Technology provider Next Gate Tech has announced an €8 million investment round.
The funding will be led by Deutsche Borse Group’s corporate venture capital unit, DB1 Ventures, and supported by NewAlpha Asset Management, Volta Ventures, Expon Capital and Seed X, all existing investors.
The company aims to help firms optimise their operations, reduce overall cost and improve customer experience.
Next Gate Tech offers a data management, insights and analytics software-as-a-service platform which generates a golden copy from various datasets. The platform is able to oversee delegates, analyse investment behaviours, compare performance and calculate risk-based metrics.
Following the investment, Enrique Sacau, CEO of Deutsche Borse Group’s data franchise Kneip, will join Next Gate Tech’s board.
David Matucci, CEO of Next Gate Tech, says: "We are excited to have Deutsche Börse as our lead investor, and we are grateful for the continued support of our existing investors. The new funding will enable Next Gate Tech to enhance its products and services further and expand its reach to new markets."
Sacau comments: "This investment by our parent company Deutsche Börse Group cements our partnership with Next Gate Tech. The logic of it is to add more value to our clients on the back of delivering both exceptionally high-quality data and bigger coverage of their value chain.”
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